Apr 21, 2023 05:40 AM

BUSINESS

BYD to Build $290 Million Battery Components Plant in Chile

By Lu Yutong and Han Wei

Chile is one of the world's top lithium producers.

Chile is one of the world's top lithium producers.

Chinese electric car giant BYD Co. Ltd. plans to build a positive electrode material factory in Chile to secure battery-making materials at a discount from local suppliers.

BYD’s subsidiary in the South American country, BYD Chile SpA, was named a qualified lithium producer, according to CORFO, a business policy agency of the Chilean government. The status will allow BYD to obtain an annual quota of 12,500 tons of battery-grade lithium carbonate at preferential prices.

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